DATE: January 27, 2025
TO: Members of the Northfield Economic Development Authority
FROM: Nate Carlson, Economic Development Coordinator
Title
Establish EDA Sub-Committee members
Body
SUMMARY AND ACTION REQUESTED:
The EDA is asked to discuss the role of sub-committees and identify members for the EDA Loan Review Sub-committee for 2025.
BACKGROUND:
The EDA has typically appointed a Loan sub-committee to review EDA Revolving Loan and micro-grant requests. The Loan Review Committee meets on an as-needed basis to review revolving loan and micro-grant applications and forwards a recommendation to the full EDA board for consideration.
Staff is requesting the EDA identify members for the Loan sub-committee for 2025. Sub-committees could be two or three members and meet on an as-needed basis. The EDA President shall serve as a first substitute for any sub-committee member.
2024 Loan sub-committee members:
• Mike Strobel (Past member)
• Andy Beaham
• Kathleen Holmes (Past member)
The EDA Enabling Resolution and Bylaws were adopted in December of 2011, and further consideration by the EDA Board is recommended based on preliminary staff review. According to the enabling resolution, within 60 days of the anniversary date [September 17, 1990] of the first adoption of the enabling resolution, the EDA shall submit to the City Council a report stating whether and how the enabling resolution should be modified.
RECOMMENDATION:
Identify members for the EDA Loan Review Committee.